The Commodity Futures Trading Commission is seeking public comments on proposed rules and rule amendments that would increase the CFTC’s authority to oversee Exempt Commercial Markets (ECMs), as directed by the CFTC Reauthorization Act of 2008. The proposed rules would revise the information submission requirements applicable to ECMs, establish new procedures and standards for a CFTC determination that an ECM contract has a significant price discovery function, provide guidance on compliance with the nine core principles for ECMs with significant price discovery contracts (SPDCs), and amend certain existing regulations applicable to registered entities to clarify that such regulations would be applicable to ECMs with SPDCs. The proposed rules are to be published in the Federal Register on December 12, and comments are due February 10, 2009.

http://www.cftc.gov/newsroom/generalpressreleases/2008/pr5581-08.html